eHealth Market Projected To Reach USD 308.0 Billion By 2022

April 2016 | Report Format: Electronic (PDF)

Global eHealth market is expected to reach USD 308.0 billion by 2022, according to a new report by Grand View Research Inc. The transition of the healthcare industry into digital healthcare system for management and analysis of patient health is expected to be the most vital driver of the market.

Increasing prevalence of chronic diseases, and technological advancements in this field are few impact rendering factors. Rising use of mobile technologies and internet along with increasing adoption for home care by patients is expected to propel market growth over the forecast period.

Furthermore, expanding scope of IT companies pertaining to the development of real-time applications and software catering to the healthcare industry is expected to drive demand over the forecast period. Federal agencies such as the European Coordination Committee of the Radiological, Electromedical and Healthcare IT Industry (COCIR), in order to encourage and popularise eHealth, formulated various policies since 2007. One of these is the eHealth Action Plan, formulated in December 2012, which includes 16 proposed actions to boost eHealth use, focused on increasing research, innovation, interoperability and adoption.

The American Health Information Community (AHIC) was chartered in the U.S. to make recommendations leading to the likely development of eHealth to the Secretary of the U.S. Health Department. Based on these recommendations, efforts are being made to increase awareness levels for currently available mobile applications and wearable remote monitoring devices.

The diagnostics segment of eHealth services market is expected to witness the fastest growth of above 15.0% over the next seven years owing to, the increasing number of patients with at least one chronic condition and rising prevalence of infectious diseases. According to the CDC, more than 50% population of the U.S. accounting for about 117 million people suffer from at least one chronic condition requiring routine monitoring.

The mHealth market is expected to be the largest and the fastest growing accounting for a market share of over 24.0% by 2022. According to statistics published by the American Telemedicine Association (ATA), the number of mHealth patents has increased multi-fold from 2000 to 2015 and over 44 million m-Health applications were downloaded in 2015 within North America.

North America is expected to dominate the market throughout the forecast period with a revenue share of over 30% by 2022. Presence of technologically updated population base and various current initiatives by the American Health Information Community (AHIC) are expected to be the drivers of this growth.

Key players of the market include IBM, McKinsey & Co., Motion Computing Inc., Epocrates Inc., Telecare Corp., Proteus Digital Health and Apple. In June 2014, Apple announced the integration of HealthKit platform into the upcoming iPhone operating system (iOS 8) which will provide a complete health overview of a person such as weight, sleep patterns, heart rates measures, blood pressure and calorie intake.

Grand View Research has segmented the Global eHealth market on the basis of products, services and region: